The prices in real estate in Malmesbury, in the Western Cape region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Malmesbury has had a strong decrease during the last 6 months. In November, the average price per m² was R 13 539. In the following month the price per m² decreased to R 12 111. The price for the following two months in (January, February) had a considerable decrease of 70 with regard to the prior two months. The price per m² has had a considerable deflation of 71 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of R 10 893,75 to R 7 714,5 during March, and April.
Based upon to the price in Malmesbury (cities & towns), these have remained the same in the last 6 months. The price in November is R 2 726 199, rising in December till R 2 944 253. In the following two months the average price has remained the same with regard to the previous two months from R 2 835 226 to R 2 761 236,5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 91 %, going from R 2 798 231,25 to R 2 548 381 in March and April.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 2 688 306 they are 43 % more affordable than the average price for Malmesbury. The properties with the highest average price have 4 bedrooms, Their price is 91 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 838 971.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 7 271 / m², with an average R 7 452 / m² price in Malmesbury. The properties with the highest average prices have 1 bedroom. They are 342 % more expensive than the average followed by properties with 2 bedrooms with a price at R 18 028 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 2 688 306 it is 61 % cheaper than the average price in Malmesbury. "Land" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of R 3 379 382 it is 212 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of R 8 871 / m² followed by "Townhouse" priced at R 9 541 / m². "Commercial" is the most costly type of property with a R 8 393 017 / m² cost followed by "Apartment" with an average price of R 17 313 / m².